NEWARK, Del, Dec. 28, 2022 (GLOBE NEWSWIRE) -- The kegs market is predicted to grow at a CAGR of 4.5% over the forecast period, according to FMI’s analysis. The industry's estimated value is predicted to increase from US$ 939 Mn in 2023 to US$ 1.5 Bn by 2033.
The kegs market is expected to rise over the forecast period owing to heightened awareness regarding environmental conservation and sustainability. This has led many keg-based companies to introduce sustainable kegs. Such kegs are safe for the environment as they do not undergo environment-harming processes during their maintenance or production. Stainless steel is the prime example of popular high-quality, eco-friendly kegs available in the market.
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Going forward, the market is shifting towards automation to cut down inefficiencies in the market. With the help of smart keg tracking sensors, the manufacturing facilities of kegs are able to manage costs and key systems efficiently. The technology-powered automation in kegs industry improves transportation and storage of carbonated and non-carbonated, alcoholic and non-alcoholic beverages, and other beverages.
In the years to come, the kegs market is predicted to be stimulated by the introduction of new technology to and improve keg palatability. Furthermore, the launch of rubber steel kegs for greater ergonomic handling of alcoholic beverages is anticipated to strengthen market growth in the future.
Key Takeaways from the Kegs Industry:
- The United States kegs market is projected to attain market value of US$ 325.7 Mn by 2033, growing at a CAGR of 5.2% in the coming years. Increasing automation in the industry, thanks to technologies like smart sensors, APIs, software, and cloud databases, is propelling market growth in the country.
- China market is estimated to grow at the fastest growth rate of 6% CAGR, to arrive at US$ 167.7 Mn by 2033. The growing application of kegs in beverages and pharmaceutical sectors is leading the market expansion.
- The United Kingdom kegs market is expected to achieve a market valuation of US$ 81.5 Mn by 2033 end, exhibiting a CAGR of 4.9% in the coming years. Increasing efforts by the keg manufacturers to release new products with breakthrough technology and authorized by formal regulatory bodies.
- The market is observing increasing preference for kegs having a capacity of 20L to 40L. Large breweries, bars, and restaurants are making use of kegs with this much capacity to preserve beverages, alcoholic or non-alcoholic. The ever-increasing growth of beverage sector is predicted to keep up the demand for kegs.
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New Developments Shaping up the Kegs Market:
- In June 2022, Ara Partners ("Ara") unveiled that it has acquired Petainer Ltd., a global producer of sustainable beverage packaging solutions based in the UK. Ara collaborated with Next Wave Partners LLP affiliates and Petainer Management to make this acquisition.
- In May 2022, BLEFA got together with other major companies dealing in keg supply chain to introduce new Steel Keg Association (SKA) to provide the advantages of steel kegs to beverage companies and breweries, as well as restaurants and bars.
- In May 2021, Lumiere Technologies turned into a new Indian partner of BLEFA. The company is based in Bangalore, and is a subsidiary of the SpectraA Group. The latter is a famous company in the Indian brewery industry as it offers breweries with one-stop platform for all solutions. Likewise, the firm offers a comprehensive solution to soft drink plants, food & beverage establishments, distilleries, and other businesses.
- In January 2020, Blefa Kegs and American Keg revealed technological investment and considerable equity by Blefa in the future growth of American Keg. With this agreement, American Keg is forecast to witness robust growth in employment and production over time.
Given Below are the Kegs Market Segments
Capacity:
- Upto 20 L
- 20 L to 40 L
- 40 L to 60 L
- Above 60 L
- Material:
- Plastic
- Tin
- Stainless Steel
End Use:
- Alcoholic Beverages
- Beer
- Wine
- Spirits
- Cider
- Non-Alcoholic Beverages
- Soft-Drinks
- RTD Beverages
- Juices
- Others
- Cooking Oil
- Chemicals
- Others
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
Complete TOC With Report Preview @ https://www.futuremarketinsights.com/reports/kegs-market
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